USD/CHF technical analysis: Greenback reverses daily gains against CHF, trading sub-0.9955 resistance

 

USD/CHF attempted to break above July tops but is now retreating and reversing the daily gains. The market is trading below its 100/200 daily simple moving averages (DSMAs), suggesting a bearish bias. 

 

 

 

USD/CHF is trading above its main SMAs, suggesting bullish momentum in the medium term. However bull will need to regain the 0.9955 level if they want to continue their ascent towards 0.9990 and the parity level, according to the Technical Confluences Indicator.

 

 

 

USD/CHF is trading below the 0.9955 resistance and the 50 SMA suggesting a correction down in the near term. The pullback down can extend towards 0.9915, 0.9895 and 0.9860, according to the Technical Confluences Indicator.